Cold snap sends investors to Snowy Mountains

An unusually cold May has ushered in an early start to the ski season and a surge in interest in Snowy Mountains real estate, according to Raine & Horne.

"With last week's announcement that Perisher has opened its Front Valley slopes for skiing, this is definitely one of the earliest starts to the season in recent memory," said Tony Freeth, principal of Raine & Horne Snowy Mountains.

Mr Freeth said the ski slopes had never opened in May in all the 26 years he’s been in the area.

"Not surprisingly we have already seen an increase in calls and enquiries from potential home buyers, and this bodes well for a good selling season this year.”

As a result, cashed-up mountain enthusiasts are gravitating towards the best available homes, he said.

"People are looking to see what's on offer with the hope of getting into a property as soon as possible, and after three marginal years of snowfalls, this spike in activity shows buyer faith and interest in Snowy Mountains property is returning.”

While Thredbo units under $500,000 are proving popular, Mr Freeth said some of the best opportunities lie in neighbouring Jindabyne, with one bedroom, one bathroom units available from $100,000, and four bedroom homes typically selling for between $400,000 and $500,000.

Despite the early season interest, Mr Freeth said July is generally the bigger month for sales, while Thredbo and Jindabyne also enjoy a traditionally robust selling season between September and Christmas.

"My advice to aspiring home buyers is to get your skates on soon, because those buyers who have held off over the last three years are now returning to Thredbo and Jindabyne. This will create strong competition for quality homes and some price pressures," he said.